Spices exports are poised for a record-breaking performance having crossed the target fixed for the whole year with one more month is left. Exports during the 11 months of fiscal 2007-08 have crossed the target in dollar terms (107%) and rupee terms (105%), while reaching 99% in volume terms.
During the period April-February 2007-08, 3, 77,000 tonne of spices and spice products valued at Rs 3785.40 crore ($940.47 million) were exported from the country. The targets fixed by the Board for the current FY is 3, 80,000 tonne valued at Rs 3,600 crore ($875 million). Export has registered an increase of 16% in volume and 19% in rupee value terms (34% in dollar terms), when compared to the same period of the last FY.
Export of pepper, chilli, curry powder and mint products have exceeded the targets in terms of both volume and value. Exports of coriander and cumin have exceeded the target in value terms and vanilla in volume terms. Performance of cardamom, ginger, turmeric, cumin, celery, garlic, nutmeg & mace fell short of last year’s achievement. Export of pepper from India is seen higher by 20% in volume and 68% in value as compared to the last year’s achievement of 26,415 tonne valued at Rs 276.79 crore.